Mobily misses Q3 2019 earnings expectations: Riyad Capital

23/10/2019 Argaam

 

The Q3 2019 earnings of Etihad Etisalat (Mobily) missed analysts’ expectations and market consensus due to higher operating expenses, Riyad Capital said in a research note.

 

“Mobily continued the increase of its revenue, thanks to the growth of revenue, business unit and wholesale, in addition to the increase of subscribers,” the note said.

 

Riyad Capital maintained its “Neutral” recommendation for Mobily’s share, without changing the target price of SAR 20 per share.

Riyad Capital - Mobily 23/10/2019

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